Short Interest in Xunlei Limited (NASDAQ:XNET) Rises By 35.9%

Xunlei Limited (NASDAQ:XNET) saw a significant growth in short interest in December. As of December 31st, there was short interest totaling 1,814,646 shares, a growth of 35.9% from the December 15th total of 1,334,796 shares. Based on an average daily volume of 450,883 shares, the short-interest ratio is currently 4.0 days. Approximately 3.7% of the shares of the stock are short sold. Approximately 3.7% of the shares of the stock are short sold. Based on an average daily volume of 450,883 shares, the short-interest ratio is currently 4.0 days.

Hedge Funds Weigh In On Xunlei

A number of large investors have recently made changes to their positions in the company. Skandinaviska Enskilda Banken AB publ bought a new position in Xunlei during the 3rd quarter worth $112,000. Walleye Capital LLC acquired a new position in shares of Xunlei in the second quarter worth approximately $51,000. QRG Capital Management Inc. acquired a new stake in shares of Xunlei during the second quarter worth $56,000. Russell Investments Group Ltd. bought a new stake in shares of Xunlei during the 3rd quarter valued at about $153,000. Finally, NewEdge Advisors LLC increased its stake in shares of Xunlei by 9,106.5% in the 1st quarter. NewEdge Advisors LLC now owns 18,413 shares of the software maker’s stock valued at $83,000 after acquiring an additional 18,213 shares in the last quarter. Institutional investors own 5.07% of the company’s stock.

Xunlei Price Performance

Xunlei stock remained flat at $7.66 during midday trading on Friday. 248,322 shares of the company traded hands, compared to its average volume of 311,937. The stock has a market capitalization of $480.99 million, a PE ratio of 0.38 and a beta of 0.99. The firm has a 50 day moving average price of $7.28 and a two-hundred day moving average price of $7.14. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.02 and a quick ratio of 2.01. Xunlei has a twelve month low of $2.05 and a twelve month high of $11.03.

Xunlei (NASDAQ:XNET) last posted its earnings results on Thursday, November 13th. The software maker reported $0.07 earnings per share for the quarter. Xunlei had a net margin of 315.06% and a return on equity of 2.75%. The company had revenue of $125.93 million for the quarter.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “buy (b-)” rating on shares of Xunlei in a report on Monday, December 29th. One investment analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company has an average rating of “Buy”.

About Xunlei

Xunlei Limited (NASDAQ: XNET) is a China-based technology company specializing in content acceleration and cloud services. Its core offerings include the Xunlei download manager, which integrates peer-to-peer (P2P) and cloud-based acceleration technologies to enhance file delivery speeds for large downloads. The company has expanded its suite of products to encompass cloud storage solutions, media streaming applications and mobile browsing tools, all aimed at improving digital content distribution and user experience.

Founded in 2003 and headquartered in Shenzhen, Xunlei originally gained traction by addressing bandwidth constraints in China’s burgeoning internet market.